"Half of all renters in the United States spend more than 30 percent of their income on rent and utilities, more than at any other time in history, according to a new report by Harvard’s Joint Center for Housing Studies." www.nytimes.com/2024/01/25/r...
A new Harvard report says 22.4 million households in the United States now spend more than 30 percent of their income in rent, with 12.1 million spending more than 50 percent.
corporations shouldn't be allowed to own thousands of properties. housing shouldn't be an investment opportunity.
Still better than Canada. Most renters up here spend about 50% or more of their income on rent.
In France, typically, a landlord typically won't rent to you if the rent is more than 1/3 of your income (because it's considered a risk that you will fail to pay your rent), or they will ask for extra guarantees (such as a person with larger income accepting to pay if you fail).
In my county, more than half are paying upwards of 50%*(the census data on my desk at work, but if I recall).
Infuriating. Until my new job, I’d been paying well over 50% for the past few years in Florida (on an old home with no mortgage). It’s impossible to ever get ahead, your debts build up & growing savings or any safety net is out of reach no matter how you budget. No words for my rage of landlords.
That's me, my rent takes up one whole paycheck a month, not leaving me much for anything
Only 30%? Seems low.
And here we're considering selling our house to go back to renting because our house payment is over 50% of our income, but rent for a place that's about the same size would be about 35% of our income, which would be a nice break. It's all garbage.
I live in subsidized HUD housing bc of disability and they still make me pay more than 30%.